China’s SWIFT System Ready To Launch By October

Peter's Commentary China has just completed its alternative to the SWIFT system for international payments. It will be ready to launch this in September or October this year. From ZeroHedge, Tyler Durden, March 9, 2015 One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin's regime may be locked out of all … [Read more...]

Russia Launches New “Swift” System

Peter's Commentary: About 18 months ago, Europe and America threatened that they would stop Russia from using the SWIFT system. The SWIFT system is used to send money between financial institutions and is critical for countries to be able to trade with each other. Due to these threats, Russia has developed its own system. This system has just been activated. From Sputnik … [Read more...]

Volatility Increases Big Time

Major volatility ensued when the Swiss National Bank removed the peg to the Euro without any notice. Up till the day they took this action, the SNB made it clear it was an integral part of their monetary policy...until it wasn't. This action has had major consequences, some already out in the open, others still to come. Hedge funds have had to close down. Financial firms have taken major … [Read more...]

Asia’s Standard Chartered Bank In Trouble

The first bank has been hit by the fall in the price of oil and other commodities: Asia's Standard Chartered Bank. From Reuters, Steve Slater, January 12, 2015: A jump in Standard Chartered's bad debts in the third quarter has prompted concern that it could face heavy losses from commodities loans after the fall in the price of oil and commodities. Credit Suisse's estimate was based … [Read more...]

Computer Programs Give Highest Returns For Hedge Funds

From Bloomberg, Kelly Bit, December 12, 2014 The Quants Are Winning. Hedge funds that rely on computer programs to trade are producing some of the highest returns in the industry after a particularly profitable November. Two Sigma, a $24 billion firm run by a former artificial intelligence academic and a mathematics olympian, rose 10 percent last month in one of its strategies and is up 47 … [Read more...]

If you have money in a big bank – Watch This Now.

Peter's Commentary I have written and warned you about this before. In 2008 the banks were bailed "out" by taxpayers funds. In the next monetary crisis which is likely to occur soon... the banks will be bailed "in". What are "Bail Ins"? And why is it important to know? Bank Bail Ins are what have been planned for the next crisis. Depositors funds, that's your and my money that we have left … [Read more...]

SIPC Insurance Is A Scam Says Professor Kotlikoff

Peter's Commentary Laurence Kotlikoff is a professor at Boston University and has a Harvard PhD. He regularly writes for Forbes, the NY Times, The Wall Street Journal, and the Financial Times.  In short, he knows what he is talking about. Kotlikoff states that the Securities Investor Protection Corporation (SIPC) is an insurance scam. From Forbes: Kotlikoff says that the "SIPC is … [Read more...]

Any Major Bank Failure Could Cause Financial Meltdown and You Could Lose Your Bank Deposits

The US Federal Deposit Insurance Corporation [FDIC] reported last week that a failure of a major bank could cause another financial crisis. From the website, August 13, 2014: Under the 2010 Dodd-Frank financial regulatory overhaul, some 130 banks are required to submit so-called “living wills.” These are supposed to document how a bank, in case of bankruptcy, would prevent … [Read more...]

SEC Imposes Redemption “Gates” On Money Market Funds

Peter's Commentary There are $2.6 trillion invested in money market funds.  The SEC has just voted to impose "gates" to restrict redemptions of money market funds during periods of market turmoil. This is highly likely to cause money market investors to transfer funds to other investments, such as equities. This could help propel equities to unexpectedly high bubble figures. ZeroHedge … [Read more...]

Warning: Bank Bail-Ins Coming Fast

Peter's Commentary Bail-ins are coming. If you are going to protect yourselves, you need to do it now. From the Financial Times:Mark Carney, the Bank of England governor is pushing officials for an agreement on bailing in creditors of globally important, cross-border banks that get into difficulty. Officials are planning to bring up a proposal at the G20 leaders meeting in Brisbane this … [Read more...]